Will Mt.Gox be Sold for 1 BTC, Bitcoin Drops by 10% and More…Weekly News Update

Heartbleed Could Affect Bitcoin Users

First off, if you haven’t already heard, then you need to hear. You should change all of your passwords for your personal accounts, including Bitcoin. Yup, every single password. Why? Because of a new revelation that a security flaw that has existed for the past two years in OpenSSL has weakened encrypted web traffic, leaving people’s personal information exposed, including Bitcoin wallet passwords and other essential pieces of information. The flaw, now dubbed Heartbleed, may have potentially affected millions. Given the difficulty of tracking Bitcoin thefts it is especially important for Bitcoin community members to protect their assets.

Study Finds that Bitcoin Wallet Attacks Rose Sharply in 2013

If you’ve been following Bitcoin news then you’ve almost certainly read about various wallet attacks. It should come as no surprise then that a recent study found that Bitcoin attacks did indeed rise in 2013. Given the sharp spike in the currency’s value, a rise in attacks should have essentially been expected. The study also found that some 6,000 different forms of malware were capable of attacking Bitcoin wallets.

One Bitcoin for Mt. Gox?

Could you imagine what would have happened just six short months ago if a group of investors would have approached Mt. Gox with a serious offer of 1 Bitcoin for the exchange? If said investors were laughed out of the room, that would have been considered polite. Following the exchange’s bankruptcy, however, investors have indeed put together an offer to buy Mt. Gox for 1 Bitcoin with the promise of reviving the collapsed exchange. 50% of transaction fees would be set aside to pay back customers burned in the recent security breach.

Bitcoin drops 10% after Chinese Banks Cut Off Exchanges

Just this past fall it seemed like Chinese demand for Bitcoin would drive the currency into stratospheric heights. Now, only a few short months later and the Chinese government’s crackdown on Bitcoin has sent the currency into decline. Threatened by Bitcoin’s potential to challenge the yuan and allow investors to evade the law, the Chinese government has cracked down on Bitcoin. Now, Chinese banks are abandoning local Bitcoin exchanges in mass due to government pressure, sending Bitcoin prices lower.

National Australia Bank Dumps Bitcoin Firms

The National Australia Bank is dumping firms that specialize in trading Bitcoin. Why? The bank claims that said firms are too high of a risk. NAB never traded Bitcoin but did provide services to companies working with Bitcoins. The move comes following a strenuous internal review that found Bitcoin to simply be too high of a risk. Following Japanese bank Mizhuo being named in recent lawsuits against Mt. Gox, some banks are undoubtedly getting cold feet.